As I was updating my side bar information the other day, it really hit me how "off" these numbers are.
The actual balances....well, those are right. I am capable of checking the balance and reporting it!!! (most days at least....) And I hope I am able to add. But again....that is alot to ask of me some days as my brain is so melted and mush that I have to put cotton in my ears to keep it from oozing out. Then I ring out the cotton balls and put it in a mold.....it makes a lovely little jello-like cube.
I digress.
I started this blog with $76k of debt. This didn't include our retirement loan....which was in the $7,000 range at that time. So it really was closer to $83k. I don't know why I didn't include the retirement loan. I think it was seeing a number in the 80's that freaked me out. Or maybe because it was being paid back to ourselves I just didn't count it as debt. Who knows....it was over 2 years ago. I barely remember yesterday.
We currently stand at $65k (or about $67k with the retirement loan). So it looks like we have barely made a dent in our debt. Anyone who just glances at the numbers would be like....really? That is all you have paid off??? In TWO years????
But that isn't the case. We have incurred new debt. I haven't added the numbers up....but I know it is there. I would love to say we NEVER use our credit cards....but that isn't true. We have used them....MOSTLY for need (such as car repairs!!!)....but there has been some budget missteps along the way as well.
There have been NO major purchases (new furniture, vacations, appliances). Our computer was paid for with cash. Anyway you slice it....we have incurred some debt.
So our numbers....we have actually paid for all of the missteps PLUS what we have paid down. I am not sure how to reflect that without driving myself crazy. All I know is that month after month....we consistently pay about $1000 just in CREDIT CARD debt. So in 26 months since I started this blog...that would be $26,000 right there we have paid (including interest).
We have paid off the car, the hospital bill, one student loan, and our retirement loan is almost done. All of that is around $18,000. We have been paying the interest on my student loan....at about $2,100 for that.
Yet, it looks like all we have done is 11k.
Some day when I actually have TIME, I will figure out all the real numbers....but for now I have to remember that we have done WAY more than my numbers actually reflect. Pardon me while I attempt to cheer myself up. I need to find something right now that proves that we aren't completely crappy at this.
You are making progress. The longer you do this the faster it will go. By this time next year your retirement loan will be gone. I think $5-6000.00 a year in pay off is great. Don't look at the interest unless it is an incentive to pay back faster. If you had that retirement loan paid off. How much more could you put in the budget? You will eventually have to get another car. Debt or no debt that money will come from somewhere. I think you are doing very well. You have also had a bad financial year with lots of Murphy visits, and you have done fine. We can do this!
ReplyDeleteI think you're beating yourself up a bit too much. you've still paid a good chunk off!
ReplyDeleteSo say it was really 83K, and you're now at 67K, that's 15K! in two years! or you've paid off almost 20% !! That's pretty good in my book!
You are keeping records, so you could go back and include the retirement loan in your numbers if you wanted. Just sayin'.
ReplyDeleteI totally get the credit card thing. We truly use ours for truck repairs and vet bills. I would love to have no debt and yet, it is what it is and I keep plugging away.
ReplyDeleteKeep working at it, eventually all your efforts will pay off.
You are making progress. Keep telling yourself that. It's worth it, and the progress will build on itself. For every $1 of debt you pay off, you'll have an additional $1 to pay towards debt the following month.
ReplyDeleteYou've had a crazy ride the past two years, and despite all of that, you've made progress! Keep it up.
Steady as she goes. I had to use one of my cards this weekend, but hopefully, I will be able to pay back the charge.
ReplyDeleteProgress of any kind is progress. Your year has been insane so I think you are doing unbelievable. Give yourself a HUGE pat on the back
ReplyDeleteJudy
hey - down is down! dont' get upset about it! :) I have watched & most people are super slow go b/c we dont' have extra to put towards it ~ but then I have seen where the last $20k ish goes fast! lets just get there ;)
ReplyDelete